Parachute: Funding, Investors & Team (Sep 2026)
Parachute was founded with the purpose of providing financial well-being for Canadians dealing with high-interest rate (predatory) debt. We are creating a world in which people have control over their finances, feel financially secure and empowered to make better choices. Our three step approach combines a lower interest rate debt consolidation loan with no hidden fees that resets a consumer's finances; a data driven app that monitors, educates and guides better financial behaviour; and a rebate system that motivates that behaviour with cash-back rewards. With Parachute, we are changing lives with just one loan.
Parachute has raised $1.5M across 1 funding round on record, the most recent a Seed of $1.5M announced in Oct 2024.
That round is below the $4.3M median round size for Apps companies tracked on FundedIQ over the last two years.
Parachute Company Profile and Key Stats
Latest funding round on record: Oct 2024.
Parachute Funding Rounds
Parachute Founders and Leadership Team
No contact details are on record for this team yet.
Parachute Funding Compared to Other Apps Startups
Parachute's latest round of $1.5M is below the median round in Apps. Medians cover the last 24 months of disclosed rounds.
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Parachute Funding FAQs
What does Parachute do?
Parachute was founded with the purpose of providing financial well-being for Canadians dealing with high-interest rate (predatory) debt. We are creating a world in which people have control over their finances, feel financially secure and empowered to make better choices. Our three step approach combines a lower interest rate debt consolidation loan with no hidden fees that resets a consumer's finances; a data driven app that monitors, educates and guides better financial behaviour; and a rebate system that motivates that behaviour with cash-back rewards. With Parachute, we are changing lives with just one loan.
How much funding has Parachute raised?
Parachute has raised $1.5M across 1 round on record. The most recent is a Seed of $1.5M announced in Oct 2024.
When did Parachute last raise funding?
Parachute's most recent funding round on record is a Seed of $1.5M, announced in Oct 2024.
Who founded Parachute?
FundedIQ lists Ashley Lukehart (Founder) at Parachute.
Where is Parachute headquartered?
Parachute is based in Toronto, Ontario, Canada.
How many employees does Parachute have?
Parachute is in the 11-50 employee band.
How does Parachute's funding compare to other Apps startups?
Parachute's latest round of $1.5M is below the $4.3M median round size for Apps companies on FundedIQ across 2,426 tracked companies over the last two years.
About FundedIQ's Parachute Funding Data
FundedIQ tracks announced funding rounds and refreshes this profile every week. Round dates, stages and amounts are normalised to a single format, converted to US dollars, and de-duplicated: two records of the same round announced days apart are merged, and two genuinely different rounds are kept apart on the amounts they disclose. Amounts shown are the disclosed figures only — a round announced without a number is listed and excluded from the total rather than estimated.
Employee counts are reported bands, not exact headcounts. Founder and executive names carry the job title on record. Anything we do not hold for Parachute is left off this page rather than filled in.
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